50 years lease questions

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  1. #11
    Kiz
    Kiz is offline

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    As far as I know only one lease has been not renewed in HK, it was quite a famous case, but before I moved here. It was a petrol station in hapy valley at the end of the racecourse where the park is now. It was very controversial.

    I work in the property sector and it does not appear that people are concerned about leases not being renewed in 2047... but I am not a lease expert.


  2. #12

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    leases in china are longer because nothing will change for them in 2047. HK will change the whole legal system and the governance system in 2047 so it can only be agreed until then.

    if the HK government was still in charge, i do not think there is any worry... but with the chinese governement in charge, we all know they are liable to say one thing and change the rules the next minute...

    but i bought a flat and i dont worry... im just gonna enjoy what i can for these 40 yrs!


  3. #13

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    Reading those posts there still seems to be vague confidence issues on what will happen in 2047. How do you think the market will feel the closer we get to 2047, when investors are supposed to pay full price for a property on which lease only a few years are remaining ? I suspect that would put off more than a few investors and might depress the market. What's your take on it ?


  4. #14

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    Quote Originally Posted by LuisHK:
    Reading those posts there still seems to be vague confidence issues on what will happen in 2047. How do you think the market will feel the closer we get to 2047, when investors are supposed to pay full price for a property on which lease only a few years are remaining ? I suspect that would put off more than a few investors and might depress the market. What's your take on it ?
    My take on it would be it unlikely the Chinese gov't (of whatever form they take by then) would want to see a property price collapse of incredible scale by not renewing the leases. My other view would be that I will be 90 by then so doubtful that I would care much anyway

  5. #15

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    hhhmmm
    so if there is government owned land then there must be privately owned land as well.
    At least privately owned land until 2047, the day the commies take over...
    Let's say I intend to buy a place in one of the villages in HK, how do I find out about the land rights?
    I mean the seller could tell me anything.
    What is the ultimate proof ?


  6. #16

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    Quote Originally Posted by Morrison:
    hhhmmm
    so if there is government owned land then there must be privately owned land as well.
    At least privately owned land until 2047, the day the commies take over...
    Let's say I intend to buy a place in one of the villages in HK, how do I find out about the land rights?
    I mean the seller could tell me anything.
    What is the ultimate proof ?

    The "commies" took over in 1997.

    Basic Law
    Article 7

    The land and natural resources within the Hong Kong Special
    Administrative Region shall be State property.
    Last edited by Claire ex-ax; 09-03-2011 at 06:17 PM.

  7. #17

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    Thanks.
    I guess that means even if I buy or build a house on a remote island of HKSAR it is on leased land.
    So just like in Shanghai or Beijing I just have a usage right 使用权
    When I factor in the air pollution then owning property here is not too appealing.


  8. #18

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    If I recall rightly, St Johns Cathedral in Garden Road Central is the only occupied freehold land that exists in Hong Kong.

    Also, leaseholds are not mutually exclusive to HK, New Zealand also has them.

    Last edited by Skyhook; 09-03-2011 at 07:07 PM.

  9. #19

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    Quote Originally Posted by Morrison:
    hhhmmm
    so if there is government owned land then there must be privately owned land as well.
    At least privately owned land until 2047, the day the commies take over...
    Let's say I intend to buy a place in one of the villages in HK, how do I find out about the land rights?
    I mean the seller could tell me anything.
    What is the ultimate proof ?
    Lots of juicy detail on the system here

    Hong Kong Land Lease Reform, Part 1
    Hong Kong Land Lease Reform, Part 2

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